⚡ Flash Summary

Tariq Glass Industries Ltd. (TGIL) held a corporate briefing session on October 15, 2025, to discuss their financial performance for the year ended June 30, 2025. The company reported a 13% increase in revenue, reaching PKR 33.6 billion, and a significant 33% surge in gross profit to PKR 10.4 billion. TGIL is expanding its solar power plant to reduce energy costs and has increased its effective shareholding in Baluchistan Glass Ltd. However, losses incurred by MMM Holding Pvt Ltd and delays in the Float Glass project pose challenges.

📌 Key Takeaways

• 📈 Revenue increased by 13% to PKR 33.6 billion compared to PKR 29.6 billion.
• 💰 Gross profit surged by 33% to PKR 10.4 billion from PKR 7.8 billion.
• 📊 Operating profit increased by 38% to PKR 9.3 billion.
• ⭐ Profit before tax rose by 18% to PKR 8.0 billion.
• 💸 Profit after tax increased by 9% to PKR 4.8 billion.
• ✔️ EPS increased by 9% to PKR 27.7 from PKR 25.4.
• 🏦 Long-term investments increased by 25% to PKR 1.8 billion.
• 💰 Long-term loans increased significantly by 61% to PKR 0.5 billion.
• ✔️ Short-term borrowing is down 100% to PKR 0.0 billion.
• 🌱 Retained earnings increased by 27% to PKR 17.8 billion.
• ☀️ Solar Power Plant capacity enhanced to 3.5 MW.
• 🏢 Increased effective shareholding in Baluchistan Glass Ltd from 42.17% to 46.79%.
• 🤝 Joint Venture Float Glass project delayed due to consumer demand.

🎯 Investment Thesis

Given the company’s solid financial performance, expansion initiatives, and growing focus on sustainability, a HOLD recommendation is appropriate. The target price will be updated once the exact financial model is made. Key considerations include monitoring the progress of the Float Glass project, resolving issues at MMM Holding, and navigating the political and economic landscape of Pakistan. The company has strong financials, which indicate that it should be able to navigate the various risks.